RIYADH — Saudi Arabia’s maritime sector is set to receive a much-needed boost with a generous allocation of SR33 billion ($8.8 billion) for the energy, industry, mining and logistics sectors in its recently announced budget for 2019. In fact, the country is on an aggressive growth and diversification path, with substantial government spending expected to catalyze its ‘Vision 2030’ goals and drive sustainable growth and development. On the back of strong growth, revenues in the Kingdom are also projected to increase this year to SR975 billion, setting an optimistic blueprint for exponential growth and progress.

The 2nd Saudi Maritime Congress, to be held on March 11-12 at the Four Seasons Hotel Riyadh, Kingdom Centre, Riyadh, will closely examine these budgetary implications on this sector, focus on the growth of intra-regional trade and the booming north-south network, analyze the changing regulatory environment and study existing project opportunities. Held under the patronage of the Saudi Ports Authority (MAWANI) and in partnership with Bahri, the event is also expected to set new trends in the shipping and logistics industry, providing extraordinary insights into the country’s ambitious growth agenda and consolidate Saudi Arabia’s position as a global trading hub and a strategic gateway to Asia, Africa and Europe. For two days, international experts, influential maritime leaders and professionals from the shipping, ports and offshore marine companies will do business, forge new partnerships and discuss key market and sectoral insights, to fast track growth and development in this vital industry.

Chris Hayman, Chairman of Seatrade, said: “We are pleased to organize the Saudi Maritime Congress for the second time, following the great success of the first edition in 2014. Against the background of global change, the Kingdom of Saudi Arabia’s Vision 2030 plan is set to transform the Saudi economy, with massive consequences for its maritime and logistics sectors. This event will provide a unique opportunity to see at first hand the scale and nature of the developments which are now unfolding in the Kingdom, as it consolidates its role as a major industry player and as a global logistics hub.”

The Saudi Maritime Congress will provide an ideal platform for discussing with key players the future direction of maritime and logistics policy in the Kingdom and for showcasing the commercial and investment opportunities which this ambitious pathway towards sustainable development represents.

The Saudi Maritime Congress 2019 is a unique opportunity to gain exceptional insights into how the ambitious Vision 2030 program will transform the Saudi economy and what this may mean for the shipping and logistics sectors.

Following on from the first, highly-rated, Congress held in Dammam in 2014, this new event will bring together leaders from the shipping, ports, ship construction and offshore marine companies in the Kingdom, as well as their international partners, for two days of deep discussion, guidance and interaction.

Vision 2030 is a plan to deliver a complete transformation of the Saudi economy, reducing its dependence on oil exports. The growth and diversification will be achieved through a range of measures, including maximizing the value capture from its massive energy sector through refining and chemicals manufacture, unlocking the potential of the non‑oil sector in areas such as mining, manufacturing and retail, and positioning the Kingdom as a global logistics hub.

This keynote session on Saudi maritime market will discuss the principal features of the plan and their implications:

• A growing contribution from the private sector to the national economy

• Foreign direct investment opportunities in the Kingdom

• Increasing employment opportunities for Saudi Arabia’s growing young demographic and the goal of nationalization through Nitaqat

• Further integration of the KSM into the regional and global economies as a hub connecting three continents.